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Confidence in Edinburgh's property market up

Confidence is returning to Edinburgh's property market, with the latest data showing an upturn in the number of sellers listing their home. Activity among both buyers and sellers increased in the three months to November, with total sales 24 per cent higher than the preceding quarter. That puts sales for this period at their highest level for six years in the Scottish ...

11th Dec 2013

Housing boom will 'ease back' say lenders

The housing market could ease back from runaway growth "of its own accord", a prominent lenders group has suggested. Market activity is up while prices are rising, leading to concerns about a housing boom that may make it even more difficult for first-time buyers to get on the property ladder. However the Council of Mortgage Lenders (CML) forecast that while ...

10th Dec 2013

General news archive

Mixed reaction to Osborne's tax on foreign buyers

George Osborne's introduction of capital gains tax on non-UK residents who sell homes from 2015 has divided the property industry. On the one hand there are many who say that foreign buyers should not be able to benefit from the UK's property market without paying the same tax that domestic buyers do. However, others question the logic of a policy which could slow ...

5th Dec 2013

Retirement age change good news for buy-to-let sector

Changes to the retirement age could fuel the buy-to-let boom, predict property experts. More will have to work till they are 68 and people in their 20s may need to stay in employment till 70, under new rules to be announced by George Osborne today. The chancellor will say that the changes are one of the "difficult decisions" required to balance public finances. ...

5th Dec 2013

Stamp duty pressure builds on Osborne

The pressure on George Osborne to change stamp duty rules in Thursday's Autumn Statement is growing, as senior tax advisors join the dissenting voices. Just last month a group of influential Conservative MPs branded the tax "inefficient" and now tax experts from PricewaterhouseCoopers (PwC) have advocated a small drop in stamp duty between £250,000 and ...

3rd Dec 2013

Couples ignore break-up risk to buy homes

A third of couples are buying homes together as a means of proving their commitment, new research suggests. However many are glossing over the dangers if things go wrong in the relationship, with one in five prepared to jump straight in having been involved with their other half for less than a year. One in seven say that buying a house together is a "romantic" ...

27th Nov 2013

Labour mayoral hopefuls question mansion tax logic

A mansion tax could be seen as a "tax on London", admitted three of Labour's mayoral hopefuls. The policy, which is a key facet of shadow chancellor Ed Balls' funding plan, would see an additional charge on homes worth over £2m. However the consistency of the Labour party's message on the topic appears to have taken a blow, with Dame Tessa ...

26th Nov 2013

UK's most popular market towns revealed

House-hunters are happy to pay a £14,000 premium to live in an English market town, shelling out six per cent above average prices around the country. Market towns have boomed over the last decade, with house prices rising by £636 on average per month. Marc Page, mortgages director at Lloyds Bank who produced the figures, said that such communities are an ...

25th Nov 2013

Mortgage lending at highest level since 2008

Gross mortgage lending has reached its highest level since October 2008, as the property market bounces back. The latest figures from the Council of Mortgage Lenders (CML) show £17.6bn of lending last month, just £1bn short of the 2008 total. Bob Pannell, the CML's chief economist, predicted that this upturn is just the start as lenders relax their criteria. ...

21st Nov 2013

Low interest rates prompt mortgage overpayment frenzy

Low interest rates are prompting many to overpay on their mortgage, according to industry figures. It is estimated that one in five mortgage holders are making an overpayment every month, as borrowers enjoy favourable lending conditions. Mortgage rates are at a historic low as a proportion of income, partially due to the 0.5 base interest rate set by the Bank of England. ...

20th Nov 2013

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